Tempest Therapeutics (NASDAQ:TPST) Stock Price Down 6.8%

Tempest Therapeutics, Inc. (NASDAQ:TPST)’s stock price traded down 6.8% during mid-day trading on Friday . The company traded as low as $3.58 and last traded at $3.59. 462,763 shares were traded during mid-day trading, a decline of 54% from the average session volume of 1,007,446 shares. The stock had previously closed at $3.85.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Scotiabank assumed coverage on Tempest Therapeutics in a research report on Thursday, March 14th. They issued a “sector outperform” rating and a $13.00 target price on the stock. Jefferies Financial Group assumed coverage on Tempest Therapeutics in a research report on Thursday, February 8th. They issued a “buy” rating and a $15.00 target price on the stock. William Blair reaffirmed an “outperform” rating on shares of Tempest Therapeutics in a research report on Wednesday, March 20th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $47.00 target price on shares of Tempest Therapeutics in a research report on Wednesday, March 20th.

Tempest Therapeutics Stock Performance

The business has a 50-day simple moving average of $3.86 and a two-hundred day simple moving average of $3.72. The company has a current ratio of 4.29, a quick ratio of 4.29 and a debt-to-equity ratio of 0.23.

Tempest Therapeutics (NASDAQ:TPST) last announced its quarterly earnings results on Tuesday, March 19th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.04. On average, analysts anticipate that Tempest Therapeutics, Inc. will post -1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Tempest Therapeutics

Institutional investors have recently bought and sold shares of the business. Northern Trust Corp increased its position in Tempest Therapeutics by 147.9% during the fourth quarter. Northern Trust Corp now owns 33,598 shares of the company’s stock worth $148,000 after buying an additional 20,045 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Tempest Therapeutics by 290.2% during the second quarter. Renaissance Technologies LLC now owns 103,401 shares of the company’s stock worth $131,000 after acquiring an additional 76,901 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Tempest Therapeutics by 52.9% during the second quarter. Geode Capital Management LLC now owns 102,244 shares of the company’s stock worth $130,000 after acquiring an additional 35,372 shares during the period. Worth Venture Partners LLC bought a new stake in shares of Tempest Therapeutics during the second quarter worth approximately $129,000. Finally, Millennium Management LLC bought a new stake in shares of Tempest Therapeutics during the second quarter worth approximately $29,000. Institutional investors and hedge funds own 22.52% of the company’s stock.

About Tempest Therapeutics

Tempest Therapeutics, Inc, a clinical-stage oncology company, develops small molecule therapeutics that combine both tumor-targeted and immune-mediated mechanisms to treat various tumors. The company's two clinical programs are TPST-1495, a dual antagonist of EP2 and EP4, receptors of prostaglandin E2, which is in a Phase 1 trial to treat solid tumors; and TPST-1120, a selective antagonist of peroxisome proliferator-activated receptor alpha that is in a Phase 1 trial for the treatment of solid tumors.